Industrial/Warehouse News

Acting on behalf of long term investor clients, Tim Gilbertson of FHP has completed the letting of further good quality modern warehouse/production space on Sherwood Business Park.

Following on from the sale earlier this month of 60,000ft² of space also on Sherwood Park at Junction 27, a further 10,000ft² has now been let on behalf of different long term clients to an unnamed PLC occupier who were represented by Sam Pearson of Gerald Eve in the transaction.

Tim Gilbertson commented:

“The deal concluded was great for both parties, we have secured a Plc occupier who had been searching for some time for the ideal unit with craneage and their agent did a great job of agreeing terms on this deal.

Whilst for my client this was a perfect transaction as the former occupier of the building left one day before completion of the new lease and took a larger 15,000ft² unit adjoining. Therefore, we had no void period creating continued income for our clients.

This is the second deal on Sherwood Park that we have completed for this particular client this year and coupled with the sale I completed on Sherwood Park a few weeks ago, we have transacted in three deals just under 100,000ft² on this excellent location just off Junction 27 of the M1 motorway.

Despite the undeniably less than robust economic conditions the country faces as a whole, these deals show again the strength of some of our East Midlands locations and the very limited stock that is available. Hopefully more industrial and warehouse buildings will come to the market soon as stock is certainly required to meet demand.

Pleasingly, we should have another unit of circa 30,000ft² coming to the market on the estate in the next few months, one to be aware of for any occupiers seeking to take advantage of Sherwood Park and its proximity to Junction 27 of the M1 motorway.”

Sam Pearson of Gerald Eve commented:

“I am delighted to have secured this letting for my client, and believe the deal represents a fantastic agreement for all parties. Working alongside FHP, we were able to secure a tri-party agreement, effectively navigating challenges along the way to reach a successful completion.”

For more information on this deal or to see how FHP can help you, please contact Tim Gilbertson on 07887 787 893 or email tim@fhp.co.uk.

ENDS

18 September 2023

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